Nissay Asset Management Corp Japan Sells 61,176 Shares of CoStar Group, Inc. $CSGP

Key Points

• Nissay Asset Management cut its CoStar Group stake by 51.9%, selling 61,176 shares and retaining 56,761 shares valued at approximately $1.61 million. Institutional investors collectively own 96.6% of the company.
• Analyst sentiment is mixed: CoStar has a consensus “Hold” rating from 20 analysts, with an average price target of $40.11; several firms recently lowered their targets.
• CoStar’s latest results exceeded earnings expectations, reporting $0.32 EPS versus a $0.29 estimate, while revenue rose 18.4% year over year to $925 million. The stock opened at $31.98 and remains well below its 52-week high of $91.89.

Nissay Asset Management Corp Japan lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 51.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,761 shares of the technology company's stock after selling 61,176 shares during the quarter. Nissay Asset Management Corp Japan's holdings in CoStar Group were worth $1,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in CoStar Group by 2.4% during the second quarter. Wellington Management Group LLP now owns 50,070 shares of the technology company's stock valued at $1,418,000 after acquiring an additional 1,157 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CoStar Group in the 2nd quarter valued at about $47,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in CoStar Group in the second quarter valued at approximately $59,000. Rakuten Investment Management Inc. purchased a new stake in shares of CoStar Group during the 2nd quarter valued at $1,995,000. Finally, North Star Asset Management Inc. bought a new stake in CoStar Group during the second quarter worth about $3,174,000. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSGP. Keefe, Bruyette & Woods cut shares of CoStar Group from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $41.00 to $29.00 in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price target on CoStar Group from $58.00 to $52.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 29th. Needham & Company LLC lowered their price objective on CoStar Group from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. Wolfe Research reissued an "outperform" rating and set a $32.00 price objective (down from $35.00) on shares of CoStar Group in a research note on Wednesday, July 29th. Finally, KeyCorp set a $33.00 target price on shares of CoStar Group in a report on Monday, August 24th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.11.

Insider Activity

In related news, CEO Andrew C. Florance purchased 83,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $29.89 per share, with a total value of $2,489,837.00. Following the completion of the purchase, the chief executive officer directly owned 1,806,165 shares in the company, valued at approximately $53,986,271.85. This represents a 4.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.78, for a total transaction of $147,374.64. Following the completion of the sale, the chief accounting officer owned 18,822 shares of the company's stock, valued at $579,341.16. This trade represents a 20.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.18% of the stock is owned by insiders.

CoStar Group Trading Down 0.3%

NASDAQ CSGP opened at $31.98 on Wednesday. The stock has a market cap of $12.96 billion, a P/E ratio of 168.32, a price-to-earnings-growth ratio of 0.84 and a beta of 0.75. CoStar Group, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $91.89. The stock has a 50 day simple moving average of $30.19 and a two-hundred day simple moving average of $35.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.21 and a current ratio of 2.21.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, July 28th. The technology company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. CoStar Group had a return on equity of 3.74% and a net margin of 2.08%.The company had revenue of $925.00 million during the quarter, compared to the consensus estimate of $928.81 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The firm's revenue for the quarter was up 18.4% on a year-over-year basis. CoStar Group has set its Q3 2026 guidance at 0.310-0.340 EPS and its FY 2026 guidance at 1.320-1.390 EPS. On average, analysts forecast that CoStar Group, Inc. will post 1.07 earnings per share for the current year.

CoStar Group Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar's offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.

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